As Russia’s War on Ukraine Drags On, Sanctions Remain Essential
Published . Updated .
Since Russia launched its full-scale invasion of Ukraine in February 2022, the European Union has developed its most comprehensive sanctions regime ever. Today, sanctions remain the main—albeit not the only—foreign policy instrument available to EU member states and their allies
Directly affected
- No company is named in this report.
Indirectly affected
- ITA iShares U.S. Aerospace & Defense ETF-6.7% 30d
iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story.
- XAR SPDR S&P Aerospace & Defense ETF-10.2% 30d
SPDR S&P Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story.
- USO United States Oil Fund+8.2% 30d
United States Oil Fund: its price follows crude oil. Linked by “russia” (oil) in this story.
- UNG United States Natural Gas Fund-7.2% 30d
United States Natural Gas Fund: it follows natural-gas prices. Linked by “russia” (natural gas) in this story.
- VGK Vanguard FTSE Europe ETF
Vanguard FTSE Europe ETF holds stocks listed in Europe, which this story is about (“european”).
- LMT Lockheed Martin+14.2% 30d
Lockheed Martin (guided missiles and space vehicles and parts): defense contractors gain when military spending rises. Linked by “war” (defense) in this story.
- RTX Rtx-2.2% 6d
Rtx (aircraft engines and engine parts): defense contractors gain when military spending rises. Linked by “war” (defense) in this story.
- NOC Northrop Grumman+5.1% 30d
Northrop Grumman (search, detection, navigation, guidance, aeronautical sys): defense contractors gain when military spending rises. Linked by “war” (defense) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| ITA | +2.64% | +1.68% | base | +0.97% | after close | after close | after close |
| XARNo price data for this ticker | — | — | — | — | — | — | — |
| USO | -5.13% | -5.78% | base | -2.74% | after close | after close | after close |
| UNGNo price data for this ticker | — | — | — | — | — | — | — |
| VGKNo price data for this ticker | — | — | — | — | — | — | — |
| LMT | -9.31% | -8.71% | base | +2.84% | after close | after close | after close |
| RTX | +0.57% | +0.33% | base | +2.06% | after close | after close | after close |
| NOC | -7.45% | -2.17% | base | +1.60% | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Market Call
Think this story will push the stock up or down over the next three trading days? Make a free call and see what other readers think. Points are play money with no cash value.
As Russia’s War on Ukraine Drags On, Sanctions Remain Essential Hudson Institute
Source: Hudson Institute
Price since this story was published: IShares U.S. Aerospace & Defense ETF (ITA)
| Company | When | Move | Status |
|---|---|---|---|
| IShares U.S. Aerospace & Defense ETF (ITA) | that day | +0.97% | still updating |
| IShares U.S. Aerospace & Defense ETF (ITA) | three days earlier | +1.68% | final price |
| IShares U.S. Aerospace & Defense ETF (ITA) | five days earlier | +2.64% | final price |
| Lockheed Martin (LMT) | that day | +2.84% | still updating |
| Lockheed Martin (LMT) | three days earlier | -8.71% | final price |
| Lockheed Martin (LMT) | five days earlier | -9.31% | final price |
| Northrop Grumman (NOC) | that day | +1.60% | still updating |
| Northrop Grumman (NOC) | three days earlier | -2.17% | final price |
| Northrop Grumman (NOC) | five days earlier | -7.45% | final price |
| Rtx (RTX) | that day | +2.06% | still updating |
| Rtx (RTX) | three days earlier | +0.33% | final price |
| Rtx (RTX) | five days earlier | +0.57% | final price |
| United States Oil Fund (USO) | that day | -2.74% | still updating |
| United States Oil Fund (USO) | three days earlier | -5.78% | final price |
| United States Oil Fund (USO) | five days earlier | -5.13% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Kevin Hern sold Lockheed Martin (LMT) (jointly held), worth $15,001 - $50,000 on 23 Sep 2026. That is 33 days before publication. Filed 13 Oct 2026. View the filing.
- Rep. Kevin Hern sold Lockheed Martin (LMT) (jointly held), worth $15,001 - $50,000 on 23 Sep 2026. That is 33 days before publication. Filed 13 Oct 2026. View the filing.
- Rep. Kevin Hern sold Lockheed Martin (LMT) (jointly held), worth $15,001 - $50,000 on 17 Sep 2026. That is 39 days before publication. Filed 13 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, sold Rtx (RTX), worth $100,001 - $250,000 on 31 Jul 2026. That is 87 days before publication. Filed 22 Sep 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who collects and who pays in defense
Companies mentioned with this story
- ITA IShares U.S. Aerospace & Defense ETF
For “As Russia’s War on Ukraine Drags On, Sanctions Remain Essential,” IShares U.S. Aerospace & Defense ETF (ITA) is linked, with no stored direction, medium confidence. Reason on file: iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story
- XAR Spdr Series Trust
In “As Russia’s War on Ukraine Drags On, Sanctions Remain Essential,” Spdr Series Trust (XAR) is linked, with no stored direction, medium confidence. Reason on file: SPDR S&P Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story
- USO United States Oil Fund
For “As Russia’s War on Ukraine Drags On, Sanctions Remain Essential,” United States Oil Fund (USO) is linked, with no stored direction, medium confidence. Reason on file: United States Oil Fund: its price follows crude oil. Linked by “russia” (oil) in this story
- UNG United States Natural Gas Fund
United States Natural Gas Fund (UNG) is linked, with no stored direction, medium confidence in the 26 Oct 2026 story “As Russia’s War on Ukraine Drags On, Sanctions Remain Essential.” Reason on file: United States Natural Gas Fund: it follows natural-gas prices. Linked by “russia” (natural gas) in this story
- LMT Lockheed Martin
For “As Russia’s War on Ukraine Drags On, Sanctions Remain Essential,” Lockheed Martin (LMT) is linked, with no stored direction, medium confidence. Reason on file: Lockheed Martin (guided missiles and space vehicles and parts): defense contractors gain when military spending rises. Linked by “war” (defense) in this story
- RTX Rtx
Rtx (RTX) is linked, with no stored direction, medium confidence in the 26 Oct 2026 story “As Russia’s War on Ukraine Drags On, Sanctions Remain Essential.” Reason on file: Rtx (aircraft engines and engine parts): defense contractors gain when military spending rises. Linked by “war” (defense) in this story
- NOC Northrop Grumman
Northrop Grumman (NOC) is linked, with no stored direction, medium confidence in the 26 Oct 2026 story “As Russia’s War on Ukraine Drags On, Sanctions Remain Essential.” Reason on file: Northrop Grumman (search, detection, navigation, guidance, aeronautical sys): defense contractors gain when military spending rises. Linked by “war” (defense) in this story
- GD General Dynamics
In “As Russia’s War on Ukraine Drags On, Sanctions Remain Essential,” General Dynamics (GD) is linked, with no stored direction, medium confidence. Reason on file: General Dynamics (ship and boat building and repairing): defense contractors gain when military spending rises. Linked by “war” (defense) in this story
IShares U.S. Aerospace & Defense ETF (ITA) and the defense link
“As Russia’s War on Ukraine Drags On, Sanctions Remain Essential” (26 Oct 2026) reaches IShares U.S. Aerospace & Defense ETF (ITA) through Defense.
IShares U.S. Aerospace & Defense ETF (ITA) is on the page because iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story
Also listed, Spdr Series Trust (XAR): SPDR S&P Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story
What this defense story puts on the calendar
ITA traded between 197.59 and 211.80 across 20 sessions. The latest close on file is 202.25. USO traded between 141.82 and 169.96 across 20 sessions. The latest close on file is 169.55. XAR traded between 210.89 and 237.78 across 20 sessions. The latest close on file is 217.93.
How solid the defense case looks
46 out of 100Price not final
“As Russia’s War on Ukraine Drags On, Sanctions Remain Essential” scores 46 out of 100. The score uses 1 sources, and 8 linked companies. The price is not final yet.